Bill > H0473

This bill amends, repeals, and adds to existing law to revise the regulations for credit unions. Key provisions include: - Revising the assessment fees credit unions must pay the Department of Finance based on their total assets. - Expanding the Department's examination and investigation authority over credit unions, out-of-state credit unions operating in Idaho, and various entities affiliated with credit unions. - Making examination reports and other confidential information obtained by the Department privileged and not subject to public disclosure, with certain exceptions. - Authorizing the Director to issue cease and desist orders and assess civil penalties against credit unions or individuals for unsafe or unsound practices or violations. - Revising the conservatorship and receivership procedures for troubled credit unions. - Prohibiting individuals removed from positions at credit unions from being employed by other Idaho credit unions without the Director's approval. - Granting the Director authority to require a special meeting of a credit union's board of directors in certain circumstances. Overall, the bill aims to strengthen the regulation and oversight of credit unions operating in Idaho.

Business and Industry, Justice

Business Committee (House)

https://legislature.idaho.gov/sessioninfo/2020/legislation/H0473/